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Bond attorneys are studying a recent IRS ruling that allowed Dallas-Fort Worth International Airport to issue $1 million of bonds that were not subject to the alternative minimum tax.
April 5
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The Department of Transportation has received $10.2 billion in applications for the $500 million available through its latest round of TIGER funding, highlighting the pressing need for infrastructure investment, Transportation Secretary Ray LaHood announced Thursday.
April 5 -
Larry Bowden, an executive at Little Rock-based Stephens Inc., has taken over as chairman of Bond Dealers of America.
April 4
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A FINRA hearing panel has fined David Lerner Associates $2.3 million and suspended head trader William Mason for six months with a $200,000 fine for charging excessive markups on muni bond and collateralized mortgage obligation transactions.
April 4 - California
LOS ANGELES — Fitch Ratings analysts said Tuesday that while a decision by the California Public Employees' Retirement System to lower its earnings forecast to 7.5% from 7.75% is positive for local government credit quality in the long term, it means added near-term budgetary pressure for struggling municipalities.
April 4 - California
SAN FRANCISCO — Two conduit bond issuers run by private firms appear to be the only entities out of thousands of government agencies in California that do not have to disclose any employee salaries.
April 4 -
The IRS has launched a compliance practice research team that will seek to identify red-flags indicating questionable muni bond transactions.
April 3 - Washington
The Municipal Securities Rulemaking Board is urging muni bond issuers to voluntarily post information about their bank loan financings on the EMMA system.
April 3 - California
LOS ANGELES — The Los Angeles Department of Water and Power is going to restart the public hearing process on rate increases proposed last year to pay for a five-year, $6.1 billion capital plan the agency says it needs to replace aging infrastructure and meet state and federal environmental mandates.
April 3
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California Controller John Chiang has ordered an investigation into Stockton's finances following the city's admission of accounting mistakes.
April 3
